First Capital Treasuries post-tax profit drops in 2024/25
View(s):First Capital Treasuries PLC, a subsidiary of First Capital Holdings PLC, has announced a Profit after Tax of Rs. 3 billion for the financial year ending March 31, 2025, a sharp drop from Rs. 11.1 billion recorded in the previous year. The earlier year’s profit was significantly boosted by exceptional gains arising from the sharp decline in interest rates post domestic debt optimisation, the company said in a media release.
For the year under review, the company posted a Net Income before Operating Expenses of Rs. 5.4 billion, compared to Rs. 18.4 billion in the previous year. The variance was due to the extraordinary market conditions that led to outsized gains in FY 2023/24 as stated previously.
Despite these developments, First Capital Treasuries PLC continued to grow its Government Securities portfolio, reaching Rs. 81.4 billion as of end March 2025, up from Rs. 61.2 billion at the beginning of the financial year. Total net assets also rose to Rs. 9.1 billion, an increase from Rs. 7.7 billion at the close of the previous year.
“Despite the absence of extraordinary circumstances seen the previous year, we remained focused on fundamentals—liquidity, macroeconomic outlook, and investor confidence,” said Sachith Perera, Director/Chief Executive Officer of First Capital Treasuries PLC. “The increase in our asset base is a testament to our disciplined risk management approach and long-term outlook in these fundamentals.”
Manjula Mathews, Chairperson of First Capital Treasuries PLC, added, “the company has remained a cornerstone of Sri Lanka’s capital market for over two decades. Our commitment to transparency, innovation, and inclusive access to government securities has allowed us to serve both institutional and retail investors with trust and consistency. The company’s continued growth reflects our ability to evolve with the market while staying true to our core values.”
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